Midday Missive….Grains…Bonds/TLT…Silver

Futures traders can buy any weakness in the Wheat or Corn against today’s low.

THESE ORDERS ARE TRADER’S DISCRETION “DRT

30 yr. Bonds…a close below 143.01 is needed for an ORL day. The better chart to watch is the TLT.

TLT…shows a weekly gap up from 117.58, last weeks high. This Chart shows no other gap, that hasn’t been filled going back at least 2 years on a weekly. This simply tells me we’re likely at the top end of the 30 yr. range again.

TLT puts in an ORL daily pattern with a close below 118.12. Again that would be a price negative pattern, however we are only pointing out that this can back and fill later in the week.

Precious Metals….

Silver…is where the action is. The current support level is $35.50 ish with the 200 day @ $34.88. This broke out on the Qtrly chart as mentioned in the A.M. Look, above $35.75. There is minor resistance @ app $37.50 with the first significant Fib resistance coming in just shy of $38.

 

 

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